Best offer regulation goes live this July. Victorian retailers are just months away from changes to the Victorian Retail Code going live, specifically, the requirement to now display the best available offer on customer bills. Unsure of where you should be, in order to go live in July? We’ve developed a timeline to assist in staying across key milestones as Victorian retailers prepare for these changes over the coming months:
The Essential Services Commission introduced major reforms to the Energy Retail Code. Retailers must inform customers, on their bills, whether they’re on the best energy plan and how much they could save by switching.
By now, you should have decided whether to purchase or build a software solution capable of performing a large number of additional calculations required.
You should have commenced testing your solution to ensure it is functioning correctly and integrates with your current billing system. Don’t worry, you still have some time to fix and re-test.
This is a good time to make any final tweaks and adjustments to your solution before you start rolling it out to customers.
There’s less than one month to go before the new regulations come into effect! Your solution should be up-and-running, and ready to start calculating your best offers.
The new regulations are now in effect. While there is likely to be a transition period, non-compliance may result in a breach of the Victorian Retail License Conditions.
Unsure if you’ll be ready in time? Would you like to talk to our subject matter expert in more detail? Get in touch with us today.